# Market Perspectives November 17, 2016 - Page 9 of 10 - U.S. Grains & BioProducts Council

> Global dry-bulk freight rates jumped this week, with Panamax daily hire rising from about $6,000 to $9,000 over the past month. A charterer reported offers as high as $36/MT for US Gulf to Japan grain shipment in December, which he declined.

- Date: 2016-11-17 · published 2016-11-17T12:00:00.000Z
- Category: logistics · region US · magnitude low
- Page: https://feedsoft.ai/events/73778-market-perspectives-november-17-2016-page-9-of-10-u-s-grains-and-bioproducts
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Higher ocean freight raises the landed cost of US grain and feed exports to Asia, narrowing US export competitiveness and supporting FOB basis discounts on corn and soybeans.

## Read by commodity

- SBM: neutral
- SOY: bearish ▼
- CORN: bearish ▼
- DDGS: neutral
- SORGHUM: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-06-29 | [Market Perspectives June 29, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/70388-market-perspectives-june-29-2017-page-9-of-10-u-s-grains-and-bioproducts-council.md) | +5.9% | +3.9% |
| CORN | 2017-08-31 | [Market Perspectives August 31, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/69349-market-perspectives-august-31-2017-page-9-of-10-u-s-grains-and-bioproducts.md) | +3.9% | +4.5% |
| CORN | 2020-07-23 | [Market Perspectives – July 23, 2020 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/52018-market-perspectives-july-23-2020-page-9-of-10-u-s-grains-and-bioproducts-council.md) | -1.9% | +1.6% |
| CORN | 2024-09-19 | [Market Perspectives - September 19, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/16999-market-perspectives-september-19-2024-page-6-of-7-u-s-grains-and-bioproducts.md) | -0.7% | -2.4% |
| CORN | 2018-08-30 | [Market Perspectives - August 30, 2018 - Page 9 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/63426-market-perspectives-august-30-2018-page-9-of-11-u-s-grains-and-bioproducts.md) | +2.0% | +4.0% |
| SOY | 2017-08-31 | [Market Perspectives August 31, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/69349-market-perspectives-august-31-2017-page-9-of-10-u-s-grains-and-bioproducts.md) | +4.4% | +4.0% |
| SOY | 2024-03-14 | [Market Perspectives - March 14, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/31093-market-perspectives-march-14-2024-page-6-of-9-u-s-grains-and-bioproducts-council.md) | +2.3% | -1.9% |
| SOY | 2018-08-30 | [Market Perspectives - August 30, 2018 - Page 9 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/63426-market-perspectives-august-30-2018-page-9-of-11-u-s-grains-and-bioproducts.md) | +0.4% | +3.9% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-november-17-2016/6/
- grains.org: https://grains.org/market_perspectives/market-perspectives-november-17-2016/7/
- grains.org: https://grains.org/market_perspectives/market-perspectives-november-17-2016/9/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.